Governor’s methods could use refining

Someone close to Governor Deval Patrick, and presumably someone with experience on Beacon Hill, needs to inform the governor that his casino gambling legislation is doomed if he continues to fight the Legislature instead of embracing it.
His letter to legislators following Speaker Sal DiMasi’s complaint that the governor hadn’t done his homework on the job creation numbers he was using isn’t the type of action that ingratiates the governor to the speaker. In fact, if the governor were to have asked around before sending out that letter, someone with common sense would have told him not to send it.
The governor’s inability to come down to the level of the Legislature is problematic for him and for the casino legislation he has submitted. Until and unless he learns how to deal with the speaker, and with the speaker’s legion, the casino legislation is destined to go down like the Titanic.
What should have enjoyed perfectly smooth sailing, has encountered giant icebergs – some hidden and some in plain sight.
The governor must be mindful that when he makes predictions about the extent of casino job creation, the figures can’t be off by 20,000 as they were shown to be, if he expects the Legislature to make a decision based on statistical analysis.
Here in East Boston, the governor has proposed that one of the three licenses be located at Suffolk Downs. There is substantial opposition to a full-blown casino of the Foxwoods type at the East Boston location if such a place is to be built at Suffolk Downs. This isn’t to say a full-blown casino couldn’t be located there.
A racino at Suffolk Downs, however, might be more palatable to everyone, including the Legislature, if all else fails.
A racino would allow the introduction of slot machines and a betting parlor type of atmosphere with restaurants, retail and with a shorter get-up-and-running time and a larger payback on invested capital. Many jobs would be generated.  Many millions in new taxes would also be generated, and the neighborhood wouldn’t be overrun by something perceived as being too large for it.
Whatever is finally going to happen, we know this for sure -  the governor needs to get his act together or his casino proposal won’t see the light of day.

Foreclosures

East Boston residents who bought three-family homes during the past five years, who paid top price for them, and who refinanced them are now being foreclosed upon as their equities have gone down in value, their interest rates have risen, and the apparent recession everyone is talking about seems to be upon us.
Two-families and threes are being foreclosed upon here, at 1-1/2 times the rate in 2006, which is a bad sign.
What’s worse, the situation is growing more tenuous for those trying to refinance or to sell.
The solution? There is no solution. The economy is shaking out the weak. Only the strong will survive.
Such are the meanderings of the local economy.